ETC is currently sweeping the 7.3500 level, a critical structure that has held as support in the past, and I believe this is a sign of strength as we're seeing a bounce off this area. The high time frame trend is bullish, which is the primary reason I'm looking to get long here. On the lower time frames, we're seeing some order blocks that I'm watching closely, and I believe these will be key in determining the next move.
From a technical analysis standpoint, the RSI is currently sitting at 72, which is slightly overbought, but I don't think this will hinder the upside potential. Volume is also relatively low at 0.9 times the average, which could lead to some volatility. The SMC score is at 4.1 out of 10, indicating some level of bullishness.
Here are the key trade levels:
Entry: 7.3500
Take Profit 1: 7.5729 (risk-reward ratio of 3.4x)
Take Profit 2: 7.9071 (risk-reward ratio of 8.6x)
Stop Loss: 7.2854
I'm looking to get long $ETCUSDT here, targeting 7.5729 for a quick profit. Follow me for more insights and trade ideas, and let's navigate the markets together.
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